+ Aug. 10; 2020 Legends for Learners Tournament in support of The Education Partnership Foundation, Valley Ridge Golf Course, Calgary; sponsorship - info/register
+ Absorb Software signed a deal; taking 80,000 sq. ft. ion the new TELUS Sky tower
+ Bombardier will just make skidoos and planes now; they’ve agreed to sell their rail division to Alstom for $6.7 billion; Caisse de dépôt et placement du Québec becomes Alstom’s largest shareholder in the process. Enterprise value is $8.2 billion.
+ Bonterra Energy Corp. announced its 2020CapEx Budget is $70.0 million
+ Bordeaux Developments Corporation closed its acquisition of NewNorth Projects Ltd.; will operate as Bordeaux Developments Corporation
+ China’s spreading novel coronavirus (COVID-19): spike in new cases subsiding, but officials not certain on the spread of the virus and efficacy of quarantines, especially on cruise ships, as the death toll continues to rise. Infected so far: 72,436, over 3,000 of which are health care workers. Dead so far 1,868. The fatality rate among those infects is 2.8%. The pace of ‘new cases’ is slowing according to the World Health Organization
+ Enbridge Inc. agreed to sell its Rio Grande LNG export facility in Port of Brownsville, TX to NextDecade Corporation for $25.0 million
+ Fort McKay Group of Companies acquired Birch Mountain Enterprises; terms not disclosed
+ Government of Canada has begun consultations with indigenous groups to explore interests in ownership of the TransMountain Pipeline project; 129 communities to be consulted
+ Kenny government is scrapping $10.6 billion oil-by-rail contracts of the previous Notley government; loss/cost to Alberta reported to be $500.0 million to $1.3 billion loss … tic toc
+ Mullen Group Ltd. announced its 2020CapEx Budget is $50.0 million
+ Parkland Fuel Corporation completed its acquisition of Kellerstrass Oil Company
+ Pinecliff Energy Ltd. announced its 2020CapEx Budget is $10.2 million
+ Power Corporation of Canada and Power Financial Corporation got shareholder approval for and then completed their reorganization transactions
+ rail blockades continue across Canada; VIARail cancelling most services, CN Rail shut down eastern Canada operations – Trudeau government in stalemate with west coast Wet’suwet’en First Nation hereditary chiefs
+ rig counts (active/working) – U.S.: steady at 790 this week; Canada: down 2 to 255 this week; full breakdown
+ TC Energy Corporation announced plans to invest $1.3 billion to expand its Western Canada Sedimentary Basin systems
+ Temple Hotels Inc. got court approval for its going-private transaction
+ Woodside Petroleum is taking a 2019 / $483.41 million write-down in relation to its Kitimat LNG project due to depressed natural gas markets and development of upstream Laird basin resource
THIS WEEK IN FINANCINGS
- proposed & closed
+ Algernon Pharmaceuticals Inc. is on the market to raise $1.2 million in equity by private placement
+ Corridor Resources Inc. closed $30.0 million equity raise by private placement
+ Fronsac REIT closed $18.0 million equity raise
+ Genworth MI Canada Inc. is on the market to raise $300.0 million in unsecured debt
+ Hydro-Quebec closed $500.0 million debt financing
+ Sharc International Systems Inc. closed $1.764 million in convertible debt raise private placement
+ Sustainable Infrastructure Dividend Fund is on the market to raise $125.0 million by IPO
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*editor’s note: names companies involved in debt financing transactions we report in this section are ALWAYS the borrower; we report ‘fresh raises’ and do not report secondary offerings …
+ in response to the Novel Coronavirus, ICS Facility Services have developed and offer a Pandemic Preparedness & Response Plan – focused on business continuity, safety, critical steps checklist, and risk mitigation
+ Thyssenkrupp elevator unit sale process continues; Kone is out, three shortlisted contenders are Blackstone, Carlyle/CPPIB, and Advent/Cinven
INTERESTING REAL ESTATE NEWS FROM OTHER PLACES
+ Firm Capital American Realty Partners Trust agreed to acquire to multi-family portfolio (eight buildings / 332 units) in Austin, TX for US$106.0 million
INTERESTING TRENDS IN RETAIL
+ Calgary Co-op agreed to acquire 1.77-acre site in Marda Loop; plan to develop a small-format store
+ Cineplex Inc. shareholders approved the takeover bid of Cineworld Group plc
+ Pier 1 closing all Canadian stores, files for creditor protection in Chapter 11 bankruptcy filings
+ Sycamore Partners reported to be near a deal to acquire Victoria’s Secret from L Brands
INTERESTING TRENDS IN OFFICE
+ Absorb Software signed a deal; taking 80,000 sq. ft. in the new TELUS Sky tower
